Make your money work harder

An after-tax or personal contribution is money you put into your super from your take home pay, or from other savings you may have. After-tax contributions are also referred to as ‘non concessional contributions’ and aren’t taxed within super.

If you have money available to invest, it’s worth considering whether that money would work harder for you inside or outside super. One of the great benefits of super is that earnings are taxed at a low rate. So unlike other types of investments, any earnings you make on your super will be taxed at a maximum of 15% instead of your marginal tax rate. For example, if you invest your money into shares, your earnings could be taxed at a rate of up to 47% (including levies), depending on your income. In comparison, any investment earnings in super are only taxed at 15% (catch being, you can’t access this until you reach preservation age).

Super tip: If you haven’t used all your before-tax caps by the end of the financial year, you can boost your super with a personal contribution and claim it as a tax deduction. This will convert it into a before-tax contribution and may reduce the amount of tax you need to pay, depending on your personal situation. If you do this, please send us a completed Notice of intent to claim or vary a deduction for personal super contributions form when making your payment. If you intend to do this, you need to get this to us by Wednesday, 30 June 2021.


Boost your super further with the government co-contribution

Did you know? If your total income is under $54,837 pa and you add after-tax money to your super this financial year, the government may help grow your super faster by paying a co-contribution of up to $500 into your super account. The amount of co-contribution you may receive is based on your total income and how much after-tax money you add to your super in a financial year. Check out this factsheet for more information.

How to get started

Log in to your bank account to set up a BPAY® payment. You can do this as a one off or a regular direct debit.

Add after-tax money to your account by BPAY ®

Add money to your super and claim a tax deduction

Log in to your bank account to set up a BPAY® payment. You can do this as a one off or a regular direct debit.

Biller code: 127 175

Reference: Your account number (which you can find under your name at the top of your online account dashboard, or by calling us).

To claim your after-tax contributions as a tax deduction, please send us a completed Notice of intent to claim or vary a deduction for personal super contributions form when making your payment.


What you need to know

  • The limit or cap on how much after-tax money you can contribute to super and have earnings on this amount taxed at the low super tax rate, is $100,000 pa or $300,000 over three years if you’re under age 65. This limit will go up to $110,000 in the 2021-22 financial year.
  • If your super balance is between $1.4 and $1.6 million, your three year cap will be lower.
  • If you have over $1.6 million in super (including pension accounts), you can’t make after-tax contributions.
  • If you’ve accessed your super early this financial year as part of the COVID-19 temporary early release of super, it may impact your ability to claim a tax deduction on any after-tax contributions you make. Check out the Australian Taxation Office website for more information or speak to your financial adviser or accountant.


Things to consider

  • Calculate how much you can comfortably contribute before the end of financial year. Once the money has been placed into your super, you generally can’t withdraw it until you retire, or reach preservation age and stop or change work.
  • If you’re over 67, you can only add money to your super if you meet the work test or the exemption applies. You can’t add money to your super once you turn 75.
  • Remember to consider any contributions your spouse may have paid into your account or contributions in excess of your before-tax cap for the financial year. These will be included in your after-tax contribution amount.
  • Your contribution needs to be in your account by Wednesday, 30 June 2021 for it to be counted in this financial year. As some banks and payment methods can take a few days, it’s best to not leave it to the last minute.


Other ways to grow your super

We're here to help

If you have any questions about contributing to super, we’re here to help. Call us on 13 64 63 Monday to Friday, 8am to 6pm, or email

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